Ciko Thomas appointed head of retail and business banking at Nedbank

Nedbank, a subsidiary of the Old Mutual group, has made several changes recently to its group executive committee, including the appointment of Ciko Thomas (pictured) to head of retail and business banking.

The bank said in a statement:

"Ciko … has been part of the (retail and business banking) leadership team and the group executive committee for six years. He has wide-ranging banking and leadership experience across the group."

Thomas, currently the bank's consumer banking managing executive, will be taking over the retail and business banking unit from Phillip Wessels, who has taken early retirement. The retail and business banking unit was Nedbank's second-fastest growing unit during 2015, contributing R4.4 billion in headline earnings - up 10.6% on the previous year.

Thomas joined Nedbank in January 2010 as its group executive for marketing, communications and corporate affairs. He went through the advanced management programme at Harvard University, and holds both a BSc and MBA degree.

Thomas's appointment is effective 31 March.

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